Epoch Investment Partners Inc. Reduces Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Epoch Investment Partners Inc. cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,010,992 shares of the company’s stock after selling 142,712 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.20% of American Electric Power worth $85,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. E Fund Management Co. Ltd. purchased a new stake in shares of American Electric Power in the first quarter worth about $498,000. Panagora Asset Management Inc. lifted its holdings in shares of American Electric Power by 1.3% in the first quarter. Panagora Asset Management Inc. now owns 74,672 shares of the company’s stock worth $6,325,000 after buying an additional 931 shares in the last quarter. Waddell & Reed Financial Inc. lifted its holdings in shares of American Electric Power by 1.4% in the first quarter. Waddell & Reed Financial Inc. now owns 13,485 shares of the company’s stock worth $1,142,000 after buying an additional 182 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of American Electric Power by 19.6% in the first quarter. Prudential Financial Inc. now owns 482,156 shares of the company’s stock worth $40,838,000 after buying an additional 78,994 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of American Electric Power by 5.3% in the first quarter. Cresset Asset Management LLC now owns 19,215 shares of the company’s stock worth $1,628,000 after buying an additional 960 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ AEP traded up $0.24 on Thursday, reaching $83.70. 64,771 shares of the company’s stock traded hands, compared to its average volume of 2,874,208. American Electric Power Company, Inc. has a 12 month low of $74.80 and a 12 month high of $94.21. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.44 and a quick ratio of 0.33. The stock has a 50-day simple moving average of $86.90 and a 200 day simple moving average of $86.45. The stock has a market cap of $41.87 billion, a PE ratio of 17.72, a P/E/G ratio of 3.30 and a beta of 0.27.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, July 21st. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. American Electric Power had a net margin of 14.78% and a return on equity of 11.02%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that American Electric Power Company, Inc. will post 4.7 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, August 9th. American Electric Power’s payout ratio is currently 66.67%.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $89.76, for a total transaction of $188,496.00. Following the transaction, the chief executive officer now directly owns 98,672 shares in the company, valued at $8,856,798.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

AEP has been the topic of several research analyst reports. Bank of America upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price objective on the stock in a research report on Monday, July 26th. Morgan Stanley decreased their price objective on shares of American Electric Power from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, September 17th. Finally, Wells Fargo & Company decreased their price objective on shares of American Electric Power from $96.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, July 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $94.99.

About American Electric Power

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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